Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website
Subscribe CustomBlackClose

Belt & Road Weekly Subscription Form

download_pop

Research ReportCustomBlackClose

The full edition of the report is available at Xinhua Silk Road Database. You can click the “Table of Content” to have a general understanding of it.

Click on the button below to create your account and get immediate access to thousands of articles.

Start a Free Trial

Xinhua Silk Road Database
Economy

China, Mongolia renew currency swap deal

July 07, 2017


Abstract : China's central bank on Thursday renewed a currency swap agreement with the Bank of Mongolia.

蒙古国货币

 

BEIJING, July 6 (Xinhua) -- China's central bank on Thursday renewed a currency swap agreement with the Bank of Mongolia.

The agreement allows the two central banks to swap 15 billion yuan (2.2 billion U.S. dollars) for 5.4 trillion Mongolian togrog, the People's Bank of China (PBOC) said on its website.

The deal aims to "facilitate bilateral trade and investment and promote the economic development of both countries," PBOC said.

The agreement is valid for three years and is extendable by mutual consent.

In 2011, Chinese and Mongolian central banks signed a currency swap deal for 5 billion yuan, making it possible for trade settlement and investment with their own currencies. In 2014, they expanded the deal to 15 billion yuan.

Scan the QR code and push it to your mobile phone

Keyword: China-Mongolia Currency-swap

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to [email protected] and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial

Ask Us A Question belt & road login close

If you have any questions, please enter them in the box below.

Identifying code Reload

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to silkroadweekly@xinhua.org and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial